REG - Corcel PLC - Interests of Extraction Srl and EPM Ltd

CorcelAnnouncement

23/02/2024 15:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240223:nRSW3287Ea&default-theme=true

RNS Number : 3287E  Corcel PLC  23 February 2024

 

Corcel PLC

("Corcel" or the "Company")

Interests of Extraction Srl and Extractions Premium & Mining Ltd

23 February 2024

As previously disclosed, Antoine Karam, the Executive Chairman of the Company,
has an indirect interest in 333,637,217 ordinary shares in the capital of the
Company ("Ordinary Shares"), 211,102,900 warrants over Ordinary Shares
("Warrants") and the outstanding principal amount of £750,000 of convertible
loan notes issued by the Company on 18 September 2023 (the "Loan Notes") which
together are held by Extraction Srl and Extractions Premium & Mining Ltd
("EPM").

Mr Karam has a 45% interest in Extraction Srl, an Italian company, which in
turn holds 100% of the issued shares of EPM, an English company. Mr Karam and
Giovanni Colangelo are the directors of EPM, and Mr Colangelo is the sole
director of Extraction Srl. Extraction Srl and EPM are investment companies
that were formed in 2023 with a mandate to make investments across the natural
resources sector.

The Company has been formally notified that, in view of Mr Karam's position on
the Board of Directors of Corcel, Mr Karam and Mr Colangelo as directors of
EPM have resolved that Mr Karam will recuse himself from any consideration or
decision by EPM in relation to any dealings in Ordinary Shares in Corcel or
the exercise of any of the Warrants or Loan Notes, with the consideration of
any such dealings or exercise, and any decisions in relation to such dealings
or exercise, being made solely by Mr Colangelo without discussion or
consultation with Mr Karam.

The Company understands that, as Mr Karam is not on the board of Extraction
Srl, any decisions by that company in relation to its investments can be made
solely by Mr Colangelo.

For further information, please contact:

Antoine
Karam
Corcel Plc Executive Chairman

Development@Corcelplc.com (mailto:Development@Corcelplc.com)
 

James Joyce / James Bavister /Andrew de Andrade             WH
Ireland Ltd NOMAD & Broker

0207 220 1666
 
 

Patrick d'Ancona
 
Vigo Communications IR

0207 3900 230
 

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation (EU) No.
596/2014 which is part of UK law by virtue of the European Union (withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEASADAENLEFA